Royal Bank Of Canada Reiterates “Outperform” Rating for Glencore (LON:GLEN)

Glencore (LON:GLEN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Monday, MarketBeat Ratings reports. They currently have a GBX 350 price objective on the natural resources company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 19.35% from the stock’s previous close.

Several other research firms have also issued reports on GLEN. Berenberg Bank lifted their target price on Glencore from GBX 330 to GBX 350 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Glencore from GBX 400 to GBX 380 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, Citigroup boosted their price target on Glencore from GBX 370 to GBX 380 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 386.

Glencore Price Performance

GLEN opened at GBX 293.25 on Monday. The business’s 50-day moving average is GBX 298.57 and its two-hundred day moving average is GBX 292.95. Glencore has a 1 year low of GBX 205 and a 1 year high of GBX 438.80. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The firm has a market capitalization of £44.73 billion, a PE ratio of -82.13, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.